PANews reported on March 10th that Matrixport published an analysis stating that Bitcoin has been consolidating sideways since early February. Despite escalating geopolitical tensions, weak US employment data, and a general global stock market correction (with a significant drop in the South Korean stock market), Bitcoin has demonstrated strong resilience. Even with a sharp rise in oil prices over the weekend, Bitcoin only retraced to the support level around $66,000, which has continued to provide support. The firm also mentioned in a previous daily report that the possibility of Bitcoin regaining strength and returning to the $70,000 to $80,000 range is increasing. As the market gradually digests the impact of the Iranian conflict, Bitcoin is expected to break free from geopolitical disturbances and recover towards a higher trading range.